Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Management Accounting:
Management accounting on the other hand tends to focus internally. Reports generated through management accounting processes will be used by the organisation's management to assist in planning and control.
Rather than focusing on the past (as is the case with financial accounting), management accounting attempts to take information from the past and projects it into the future. The primary management accounting report is the budget, and reports analysing actual results against budgeted targets.Management accounting uses historical data to assist in establishing financial objectives, and allows managers to make rational management decisions to achieve those objectives.
Management accounting reports usually provide great detail and cover much shorter periods of time (sometimes weekly). This allows managers to act quickly and decisively if required.
The major differences between financial and management accounting can be summarised as follows:
Financial Accounting
Management Accounting
Information for external users
General purpose
Long time periods (FY)
Reports on the past
Required by law
Subject to accounting standards
Focuses on objective data
Used primarily by internal users
Usually focused on specific purpose
Short periods (monthly, weekly)
Past and future
Not required by law
Not compelled to meet standards
Can utilise subjective data
Why do investors invest the lion’s share of their funds in domestic securities? Answer: Investors invest greatly in their domestic securities since there are major barriers to in
External Financing with Same Cost of Capital and Same Proportions as Existing: If a firm raises new capital funds in the same proportion as at present and at the same specific cos
If you are doing PVA and FVA problems, what difference does it make if the annuities are "ordinary annuities" or "annuities due"? In PVA or a FVA of annuity due trouble, annuit
Citilink will start a new business line on 1st July, 2011 to make and sell bus souvenirs. The target sales and production volume are 525,000 in next year. The following projected
Question 1 International trade is the economic interaction among different nations involving the exchange of goods and services. Discuss the role of Banks in International Trade T
when asked to calculate return method given cash flow before depreciation how do you do it
What are agency problems? and between what two stakeholders do agency problem typically occur?
The following treasury issues can be included for the construction of the curve: On-the-run treasury issues. On-the-run treasury issues and sele
Question: (a) Define the term "corporate and financial relations" and clearly state its components. (b) By using one example, identify the steps required to establishing cor
Workers interest in participation is also influenced by certain personnel or group characteristics. For example several research studies have shown that both very low and very high
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd